West Red Lake Gold Completes 16 Holes Under Phase 1 Program At Rowan Property
West Red Lake Gold (TSXV: WRLG) is reporting early success in its 2023 exploration program at its Rowan property. The firm to date has completed a total of 16 drill holes under the 2023 program, amounting to 3,094 metres of drilling in aggregate.
To date, fourteen of the holes have been focused at the Rowan Mine, while two were focused on the Red Summit NE area. All holes to date under the current program are said to have interested mineralized zones, with half reporting that visible gold has been observed.
READ: West Red Lake Gold Plans To Drill Test 17,000 Metres In 2023
Preliminary data from drilling includes the following highlights:
- RLG-23-130: 3.5 metre intersection where visible gold was observed in two narrow quartz veins w/in ankerite-sercite altered zone
- RLG-23-132: 19 metre intersection where visible gold was observed in 20cm-thick smokey quartz-sphalerite-galena-pyrite-pyrrhotite vein
- RLG-23-132: 33.1 metre intersection where visible gold was observed in 20cm-thick quartz-tourmaline-sphalerite-galena-pyrite vein
- RLG-23-136: 23.6 metre intersection where visible gold was observed in 10cm-thick quartz vein w/in sericite altered zone
“The Company’s 2023 exploration program at Rowan has got off to a good start with great success early on. The Phase 1 program has had a 100% hit rate with 50% of targeted drill holes containing intersections with visible gold. Exploration work to date confirms the Company’s original geologic thesis and has shed considerable light on possible synergies with the Madsen Gold Project,” commented CEO Tom Meredith.
A further 4,000 metres of drilling is slated to occur under the current phase one drill program in June. This will then lead directly into a phase two program, which will see 10,000 metres of drilling to expand on phase one exploration, while also testing newly developed greenfield targets at the Rowan property.
The exploration data follows the company entering a game-changing transaction to acquire the Madsen Mine from PureGold for total consideration of $18.5 million, which is to be paid in cash and shares. The property has a historical mineral resource estimate of 1.7 million indicated gold ounces and 0.4 million inferred gold ounces.
West Red Lake Gold Mines last traded at $0.70 on the TSX Venture.
FULL DISCLOSURE: West Red Lake Gold Mines Inc is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover West Red Lake Gold Mines Inc on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
